Wednesday Apr. 30, 2025 - Does today' negative GDP number mean we are headed for a recession?
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He's been seen on CNBC, the Fox News Channel, and the Fox Business Channel. His articles can be found on MarketWatch, Seeking Alpha, TheStreet.com, and many other places. He's the author of the weekly Best Stocks Now newsletter and the inventor of the Best Stocks Now app. He's president of Gundersen Capital Management. Here is professional money manager, Bill Gundersen.

And welcome to the Tuesday. It is the last day of April.

And it's the I should have stayed in bed version of the Best Docs Now show today. We've got a sell-off going on in the market. And we'll get to Barry in a moment about the negative GDP report, which wasn't unexpected, but it was a little bit worse than expected, I guess. The Dow is down 675 points today.

That's 1.67%. The S&P is down 108%. And, of course, that ends a six-day win streak for the S&P 500. All good things must come to an end. It's down 108%, almost 2%. And the NASDAQ getting hurt, I think, by GDP report negative. And I think also by the weak report from a super microcomputer, it didn't come to the rescue.

And the tech AI stocks are leading the way down in the NASDAQ, which is now down 2.6%. It, too, had a pretty good win streak going on. The bond market right now, you're down a couple of basis points. We're clear down to 4.17% right now. Gold is down. No rush to gold today. Gold is down 0.5%.

And Bitcoin was up a little bit. Now it's down $1,593,409. So welcome to today's Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management. I'm here with Barry Kite, our chartered financial analyst. And just what it looked like the market was looking better and better every day today.

And we had a rough start. We're having a rough start here to the market after a good day yesterday. And it looks like a couple of things driving it. But I can just say from my point of view, Barry, I look at every earnings report that comes in since we did the show yesterday yesterday.

And I didn't see one good one today. I mean, it was... You said they've been lackluster, right? Yeah. I mean, of course, well, we get Meta and Microsoft at the close to tonight, and then we get, what, Amazon and Apple to tomorrow. But, you know, in just a mixed bag of economic data, I mean, you talked about the GDP number that looked... You know, it looks weird on the surface, and there's a great explanation for it, but...

Also, we got an ADP report today. We got a PCE number where inflation was 0% for the month. We just got numbers all over the place. It's all over the place. Well, we added 1% yesterday, a six-day win streak. That's the first time since September.

And then today, which is the last day of April, one-third of the quarter is now gone, and we're off to a rough start here this morning. Now, yesterday, there's several things, I think, here that are kind of leading, that are, you know, lending a hand to the sell-off today. But I wouldn't get too worried about it. There were rumors yesterday that the U.S. was getting very close to a recession.

a trade agreement with an unnamed country. I don't know what unnamed country it is. I hope it's not like Albania or some little country. They talked like it was a big one, and that kind of buoyed the market yesterday. And then today, I was hoping it was India because that would be a major, major win with the population bigger than China. And India has basically shut out

U.S. goods never really did much trading with us, not allowing our goods in there. But I'm reading today that they're targeting the first deal by fall. Okay, that's a long ways off. That's not like an imminent deal at all. India and the United States completed three days of negotiations in Washington last week. And I think the U.S. really wants to focus on India right now.

because of the size of their market and because of, you know, the standoff with China, who has the second biggest population in the world. But they did have fruitful negotiations, discussions on a broad range of tariff and non-tariff issues. But, you know, it looks like it's going to be fall. That's a long ways off. You know, I think the market was expecting something more imminent this

But it sounds like there's going to be a pretty big deal when those two come together. Both nations are seeking to more than double their bilateral trade to $500 billion by 2030. Trade between the two nations remains strong, with the United States continuing as India's top trading partner for the fourth year in a row. But, of course, they really want to ramp that up. And they've been talking about things like,

Harley-Davidson's, Kentucky Bourbon, different things, automobiles, wine, petrochemicals, dairy items, agricultural products such as apples, tree nuts, alfalfa, hay, a lot of different things there on the table.

There are some sticking points, however, such as, let's see, the sticking points here look like apparel, textiles, gems and jewelry, leather goods, oilseed, shrimp, and horticultural products. But anyways, that's the current status. I think it's a little bit on the disappointing side that

Nothing going to be hammered out until fall of this year. When I think fall, I think October, November, maybe October. We'll see. Okay, now, so there's one strike against the market today. Plus, all of those earnings reports, which we're going to get to now...

As of last Friday, we were on a very upward trend, gaining momentum in earnings reports. I would say today's reports came from a lot of second-tier companies,

Other than Visa and Starbucks and maybe Yum! Brands, really a lot of second-tier stocks. I didn't see one. I read the earnings report, and then I look at the futures on the stock in the pre-market. I didn't see one report that was good.

where you had positive momentum from a good earnings report. That's very unusual. It was like maybe there were 35 companies that I looked into and not one of them, except for Seagate. Seagate was the only exception.

And a couple of them were off big. I mean, look at SMCI. I mean, what, they were down when I saw them. Which one? Oh, yeah, SMCI. SMCI was down close to, what, 16%, 20%. Yeah, and that's taking wind out of Palantir, out of NVIDIA, et cetera. Even though SMCI is a pretty small player.

But that put a knife in the heart of the AI rally. The AI stocks have been doing really well. But I wouldn't read too much into just SMCI. But it is lending to all of the negativity out there right now. And probably the elephant in the room, USQ1 GDP minus 0.3%.

That's the first negative print we've had. I saw that stat. Was it three years, I think, since the last negative print? And of course, two negative prints in a row equals a recession. Now it was only down minus 0.3. Remember the Atlanta Fed? They were like predicting minus 3.7.

several months ago. Maybe that's the quarter we're in now. No? Okay, this is the advance estimate for the quarter. I think that was a full year number that they were giving in terms of what they reduced. But, I mean, the thing about this GDP number is you had, I always think it's funny that it looks like you have negative GDP when in reality we're buying a lot more stuff. The difference is the stuff we're buying is from overseas. Exactly.

which creates, if you look at a GDP calculation, the last two numbers is either a trade surplus or trade deficit. If it's a deficit, it actually minuses off of all the other stuff in the formula. And so in this case,

We had a record trade deficit because of people buying stuff ahead of time. And that turned in, you know, that importing overcame all of the other growth that we had. And so you end up with a negative number.

To me, does it really mean our economy is negative? No, because we're buying a lot of stuff. It just happens to be stuff from overseas. And it's this front-loading. It's a weird number. It's the front-loading that we've been talking about. But yet the headlines, most investors see the headlines. Negative GDP. Yes, and the headlines mostly come from CNBC and the Wall Street Journal. Those are the two big ones.

and cnn uh and they uh you know negative gdp first time in three years blah blah blah blah but they really don't explain why now i tell you that i tell you the channel that the investment channel that's been you know i wouldn't it's hard to say that they're you know certainly uh pro trump but the one that's been kind of the most in the middle i think it's because they have a big uh

They've had a relationship with Besson over the years because I've seen him on there a lot. It's Bloomberg, actually, surprisingly enough, given some of the stuff that's been said back and forth between Trump and Bloomberg. Mike Bloomberg does not like Trump. I did hear an interview with Besson last night about it.

with charlie kirk and that he was mentioning that he stopped by the circle k_ on meeting street nowhere that is right by your and gets a doctor pepper every now he's in washington right now but i said well i drive by that all the time i'm gonna stop in there in the morning maybe chat with best i got a funny story to tell you about that when we come back

And welcome back here to the second quarter of today's Best Docs Now show. You know, Bess was talking to a lot of Charlie Kirk's audience, which a lot of high school and college kids are.

They had a lot of people listening to that interview, and they were able to ask questions. And they were all asking, you know, what's the best, how do I become a millionaire over time? And, you know, I mean, look, you put some money away every week, and you invest it, and you continue to invest it and let it grow over time. But he said as he stops into the Circle K on Meeting Street there,

A lot of people are buying lottery tickets, right? And they know who he is. They say, hey, Mr. Besson, if I hit the lottery, will you manage my money? And he tells them, you know, if you took that $10 or $20 that you spend every week on lottery tickets and you just bought Bitcoin, what if you had just started buying Bitcoin 10 years ago? Or the NASDAQ. What is it, TQQQ, the three times NASDAQ? Oh, yeah, yeah, triple QQQ.

You wouldn't need to be buying those lottery tickets right now. And he makes a really good point there, you know. And just think of all the things that we blow $10 or $20 a week on.

uh... you know diet coke whatever the case may be of course he can afford the the doctor peppers every morning no problem the other point he made and i go that's my guy he was knocking the asset allocation model he said well you know the standard practice out there is you take your age

You know, I'm 70 years old. You subtract it from 100, and that means you should have 70% of your money in the bond market and 30% in the stock market. He says, I think that's a terrible model, and we do too. Okay, but yet that is the most...

A prevalent model, if you go in for a financial planning or if you have a planner or if you have some kind of plan in place, it's usually built around that model. Here you've got a billionaire hedge fund manager.

Who's a native of South Carolina, by the way. I didn't know that. See, I didn't realize that. I was wondering how he made it here. Somebody, I talked to somebody within the last year and said, have you ever met Scott Bessett? Because we were talking about some of the heavy hitters here in Charleston. We have a few.

And this guy said, "I sat next to the airplane, next to Scott Besson. That guy, he is a brilliant guy." And now, like, "Yes, so, man." And he talked about all that he's been through. He's been through more than I have. He's been in the business longer than I have. I've been in it for 25 years. He's 62 years old. He's been in it for 45 years.

He used to be in it with Soros. Yes, and he talked about all the time he's been knocked to the ground. He was there in 87 when in one day the S&P went down, or the Dow went down 23%.

And he said the family that he was managing money for, he was 25 years old at the time, I want to say, told him, we have been saving money for a time like this. Let's go all in. So that's what he did. He talked about the 2000. That was the biggest one I witnessed. That was the dot-com bubble bursting. He witnessed the financial crisis. That was a real bad one. That was nasty news.

And then we haven't really had one since then, unless you count COVID, which was very short, very swift, and it came back very quickly. And then we had that correction, that 20 or 20, kind of the bull market. It was a short one at the end of 2018. That was kind of where the Fed had been raising rates, and literally they turned around and said, oh, sorry, what's wrong?

reduced rates and then of course that sent the market on a tear in 2019. Yeah, and then we had 2020, 2021 where they went on the rate hike binge and the NASDAQ was down 35% that year. So anyways, I learned a lot and I love to hear him knocking the asset allocation model because I have never been a believer. Now, while our GDP contracted by 0.3%, now think of this,

The euro area rose by 1.2%, but they have a trade surplus. They have a huge trade surplus. And I would say that most of their GDP, because they really don't grow very much over there in Europe, I would say most of their GDP comes from their trade surplus, which was another thing that Besant mentioned. And I like this. He was talking about the surpluses and whatnot.

And he was talking about what they're trying to accomplish here in the U.S. And it just reminded me of, you know, I think they're on the right track with what we're doing. And he emphasized the course that we were on would have, it was totally unsustainable. The printing money and borrowing is,

and spending more than you take in, we're on a collision course with doom. You had to change habits, right? And, I mean, frankly, changing habits usually isn't very popular, and that's why most of us don't change our habits and go back to whatever flaw we had to begin with.

Yeah, and one other point that he must have said four or five times. He says one of the biggest killers to enterprise, entrepreneurship, growing your economy are regulations. Yeah. And he said the more you can...

I mean, you have to have regulation. I mean, you can't be making pills in the backyard and stuff like that. You have to have certain regulations. But Europe has strangled growth and entrepreneurship with over-regulation.

Well, and strangled innovation. I heard something about that recently just in terms of like, you know, think of all the tech companies that have came out of the U.S. in the last 25, 30 years. New drugs. You've hardly had any coming out of Europe. And frankly, it's because they've kept, you know, they kind of, you know,

Keep that innovation down. If you want to innovate, you'd probably be better to come here, innovate, and then go back. Now, we have states here in the U.S. which are more European-like. California comes to mind. New York comes to mind where it's very, very difficult.

I saw Phillips 76 is totally shutting down their refinery there. They supply about 8% of the refined gasoline to California, so you pay a hefty price for gas in California. Well, that Chevron, I mean, yeah, I mean, you have had that Chevron refinery up there kind of in the Bay Area for years. That's always kind of been a back-and-forth fight. Yeah, I think they're shutting it down. Yeah, probably.

Okay, U.S. private sector growth cools. So we're going to get the real report on Friday, the non-farm payrolls report. Another issue we have is mortgages are still too high, 6.9%. We're at 6.9%. That is stifling growth. That's stifling home buying.

And, you know, a lot of Charlie Kirk's audience, definitely younger. I mean, he did a lot of work leading up to the campaign and visiting the colleges.

And, you know, these young guys can't afford a 6.9% mortgage, although I think my first mortgage was probably somewhere in that neighborhood. Yeah, the trick was that the price of the house was less. When you add the price of the house and the insurance and a 6.9% mortgage, that's tough. Something's got to give there. Okay, when we come back.

I have a boots on the bridge report on how many Chinese freighters were in our port yesterday because this is going to hit the wall here real soon. We'll be right back. This is Bill Gunderson. Thank you for tuning in to today's Best Stocks Now, Best Inverse Funds Now show.

I put several hours of research in during the wee hours of the morning each day to bring you the very best cutting-edge stories that I can. To get two free weeks of my newsletter, go to GundersenCapital.com. To talk to us about our fee-based only money management services, call us at 855-611-BEST. Now, back to the second half of the show. Music

And welcome back here to the second half of today's Best Docs Now show. I saw the inductees or the nominees for the, I guess it's the inductees by now for the

Rock and Roll Hall of Fame back in Cleveland. It seemed like pretty much everybody I grew up watching is already in there. But there was a few, you know, and I'm looking forward to heading back there this month, starting tomorrow, May 20th and 21st, Tuesday and Wednesday.

at the Marriott in Warrensville. And we're going to have a good time Tuesday night. Have a fun workshop. Get up there and show you what's happening in the market at that time. You never know. I mean, that's something you can't plan way in advance, what you're going to talk about. You've got to pretty much...

put together uh you know your notes the day of the workshop that's the way it is other than things like valuation and whatnot but the current state of the market who knows what it will be at that time that's going to be from 7 to 8 30 p.m on a tuesday night i don't know what you could be doing more fun than in cleveland on a tuesday night than coming to the gunderson show

and the team. That's May the 20th, Tuesday. To reserve a seat to that, you've got to call Edie at 855-611-BEST. 855-611-BEST. In addition to that, on Tuesday and Wednesday, we'll be there at the hotel during the day. We've got a nice little conference room where we're going to meet with individuals and talk about your situation and see if we can help you

be of any help to you, give you some ideas, whatever the case may be. And obviously there's only so many spots available during the two days that we're there. To reserve one of those spots, call Edie at 855-611-BEST. 855-611-BEST. Okay, as I drove over the bridge last night coming home from Charleston and going to downtown Charleston,

I noticed we have two rivers that combine into the Charleston Harbor. One river is the Cooper River, which turns into freshwater about halfway up. It eventually goes to a dam and a lake.

And then there's the Wando River, which is a saltwater tidal river. And they come together, create the Charleston Harbor. And right at the entrance of both of those rivers are some big, big ports, right? With the big cranes, the container ships park there.

The cranes are GPS-driven. They take the containers off one at a time, put them on a truck. I mean, that's a lot of trucks. That's a lot of business. That's a lot of employees. That's a big business here in Charleston. On the Cooper River, there's room for three or four freighters. I noticed there were none on the Cooper River.

The Wando River is the busier one. I noticed three Chinese freighters, MSCI. I'm not sure that they're Chinese. It could have been a European one in there. But I didn't notice them being unloaded. I noticed them sitting there.

And, you know, like we talked about yesterday, there's troubling signs are piling up for China as the trade war threatens the world's second largest economy right behind the U.S. China's official manufacturing PMI, which measures factory activity, fell to 49 in April, coming in below the threshold of 50. That separates expansion from contraction.

So that's the first sign of things showing up. Across the Pacific, there are also signs of pain piling up for the world's largest economy. That's us. The Port of Los Angeles announced that shipping volumes will plunge by a third week for a third week.

due to major American retailers stopping all shipments from China based on the tariffs. Now, Barry, you would think that would be a pretty big incentive to get some kind of a deal done fairly quickly.

But they have stopped all shipments, all right? Air cargo holders have observed similar reductions, while many U.S. companies have stocked up on goods. Hence, you know, you've got the weak. You wouldn't think stocking up in goods would lead to a weak GDP report, but it does because it increases the trade deficit.

If the situation is not sorted out in coming months, it might lead to a cascading effect across logistics and transport businesses and eventually store shelves. No question about it, okay? I mean, there's at least going to be a big hiccup.

If they're not unloading those ships there that I saw parked, eventually, I think inventory dries up pretty quickly on the shelves. Yeah, and I think some of this, right, I guess you need some of this eminence in terms of getting both parties to the table, right? We talked about really both countries need to make a deal. I think China probably long-term needs to make a deal more, but...

There's stuff we need to buy, and we buy as consumers from China. And on the other side, those goods put people to work over there. As I talked about and as Besson mentioned, in a month you could have 5 million to 10 million new Chinese layoffs if you don't

If you have to shutter some of these factories. So they need to make a deal. We need to make a deal because, you know, the administration is going to get blamed if you've got a bunch of empty shelves. Right. And so, you know, hopefully that'll that'll bring both sides together in some fashion. And it's not really clear if they're talking, but there's likely some contact going on behind closed doors, right?

Each side wants a win, okay? They don't want to say Trump cleaned our clock and Trump doesn't want to give in to Xi and say we didn't get many concessions. Each side wants a win. They're creating a lot of carve-outs in the automobile industry, Apple iPhones, electronics, aircraft engines, etc.,

But you know what? I mean, something's got to give here pretty soon. Now, there's ways to avoid the tariffs. I was reading about this. They call it whack-a-mole. There is white labeling, which allows companies to easily rebrand products or altering customs codes, quantities, or country of origin.

Tariff engineering also has taken the form of new supply chains or transshipments where goods are rerouted through third-party countries.

It's no wonder that Vietnam has seen a manufacturing renaissance in recent years because of China, or that Mexico surpassed China as the biggest importer into the U.S. I'll bet you didn't know that. Well, and that's what China, that was a result of some of the Chinese tariffs under the first Trump administration. They've invested tons and tons, Chinese businesses have invested tons and tons of money into Mexico, so then those goods can come across from Mexico.

And not be subject to the tariffs. So, you know, supply chains have been rejiggered a little bit, at least from that perspective. The difference is, you know, some of that investment may go for naught as well if they're going to tariff things from Mexico more. Yes. Okay, I've got an update on two opposite ends of the spectrum here.

here in the energy patch. The number one ranked stock in my app right now is a French nuclear utility. They're the French utility. It's like E-N-G-I-F, I think is the symbol. And, you know, France is nuclear friendly.

So it's the number one ranked stock in the app right now. At the other end of the spectrum, First Solar announced just a horrible report. Of course, they offshore a lot of the production of goods. First Solar is down 9.4% today as solar has not been a good place. And you've got one here that's on the verge of bankruptcy today.

Sun Nova, N-O-V-A, is now 20 cents and getting ready to file for bankruptcy. They provided residential solar and energy storage services to over 441,000 customers in 50 states. They're out of Houston, Texas, where there's plenty of sun. But this stock was a $57 stock back in 2021, and now it's 20 cents more.

So these are not good days for the solar industry. And in France, I mean, France is, you wouldn't, you know, we've talked about this before on the show, but they're, I mean, they create, I think, over 70% of their power is nuclear. And they're actually the largest exporter of nuclear-generated power in the world. So some of their neighbors actually use some of the power from their reactors. So they're...

France is far along in the nuclear power realm. I think they have over 50 reactors around the country. Yes, and it's interesting that the app, which doesn't follow the news, which doesn't follow politics, which knows nothing about the Green New Deal and this and that...

The number one ranked stock is the French nuclear energy supply. Okay, when we come back, we're going to run through several earnings reports, see if we can find a good one. Most of them pretty soggy today, and that's leading to the sell-off in the market. We'll be right back. You got to go where you want to go. Do what you want to do and do.

And welcome back here to the final segment of today's Best Stocks Now show. I'm seeing some buying coming into the market here right now. The market's cut its losses by quite a bit and seeing some good buying. That's good. Buy the dip. That's good.

It's been just the opposite. They've been selling the rallies, okay, and now we're buying the dips in the market. That means that the sentiment has definitely gotten better on the overall market. And as I look at these earnings reports, you know what? I mean, a lot of these are turning around now and going positive. I think the biggest one today is the financial, and I believe it's a member of the Dow, Visa.

Visa beat by a little bit. Visa is down just a little bit. It's down eight-tenths of one percent. Visa has been a pretty good performer over the years. Definitely linked to the consumer using your Visa card. And then you've got Yum! Brands, where Taco Bell is the star of Yum! Brands. You know, their franchise is Pizza Hut, Kentucky Fried Chicken, Yum! Brands.

I mean, the Taco Bell. Remember when they were Tricon before Yum? I remember that. They have 61,000 fast food restaurants. And I'm sure on a corner near you somewhere is a KFC, a Taco Bell, or a Pizza Hut. Or all three. You know what? I got to tell you. They show these commercials of the stuffed crust pizza.

They pull it away real slowly, and the cheese stretches for like 10 feet across the room. Mine didn't do that. I mean, there was hardly any cheese. Maybe they just don't like me. They've got me on a bad list, my address. I didn't get that kind of cheese in my stuffed crust pizza, like the commercial. My dad used to say, you know, I want the one that you filmed yesterday.

We go to the fair, and a guy would be demonstrating some gadget. He'd say, I want the one that you're using. Oh, no, sir, I can't sell you that one. But, yeah, you know, it just wasn't like the billboard. It didn't look like the one on the billboard, the burger I got at McDonald's. Definitely the stuffed crust pizza did not look. The one I got was nothing like the one on TV. Caterpillar's Q1 earnings slide.

But you know what? Cat is hanging in there. Cat is down. We've got a record backlog. Record backlog of like, I think it's somewhere like $32 billion in equipment, I think. And the stock is about even on the day. Okay. Stellantis, which is kind of a walking disaster.

They're going to really be in bad shape when the tariffs hit. They're down 3.8%. That's a $9 stock right now. I think they withdrew their guidance. Best stock now, Booking. Booking is having a good day. And the stars of the day, Western Digital up 5.6%. So that's cloud pretty much.

And Seagate, Seagate is up 9.2%.

So those are two big players in the chip sector. You know, the technology group itself is divided into a lot of different subsectors. And computer data storage, think of the data storage that we have now compared to the little, you know, we used to have 40 gigabytes. We'd get a PC with 40 gigabytes. You use up 40 gigabytes, one little application that eats that up.

Now you've got the cloud, which is pretty much infinite. Seagate and Western Digital both having very good days today. That's good for the tech sector. Starbucks is, on the other hand, down 7% today. And they're up against it in a lot of areas. The price, the cost of their product.

They probably overbuilt. There's a lot of competition out there. There's a lot of coffee shops buying for the dollar. And I don't know what they're going to do. I haven't heard anything on the tariffs and what kind of shape they'll be in with coffee coming in.

I think El Salvador, I saw that interview with Bukele. That was very interesting. Boy, take a look at what Bukele is doing down there in El Salvador. But they're a big coffee producer and chocolate, cocoa. But that's going to be tariffs unless they allow that stuff in without tariffs. I don't know. Well, I mean, when you look at Starbucks, I mean, you're talking about a 29 forward P ratios for a...

You know, for a coffee shop, honestly, I mean, at this point, you know, to me, even with such a pullback, I mean, it was at 117 as a 52-week high. It's at 78. And, you know, that PE still isn't very palatable in my opinion. Jim Cramer, he talks up Starbucks all the time. It's in his portfolio. I think it's a dog, really, in today's world. I mean, we've saturated the world today.

It's in the gas state, in our supermarket. It's inside this. I've seen churches with Starbucks inside. Oh, I have. Yeah, that's right. It's nuts. Airports. I mean, it's everywhere. But, okay. And if you're there, you've got to be patient because, I mean, they're supposed to lose 27% gas.

less earnings in 2025. They're supposed to be up 40% in 2026, but you've got to see the turnaround. I don't see the turnaround yet. No, they say there's a turnaround going on underneath the surface. It's really well hidden, I guess. Then the last one is Booking.com with a good report, 22% growth in earnings. That stock is just amazing, really.

Okay, well, that was a fast-moving hour. The market is doing a lot better than when we started. I think people are putting two and two together and saying, you know, that negative GDP report, there should be an asterisk next to it. It comes from all of this front-loading of ships and increases. That's why we have the record trade deficit. See why you listen to Gundersen Capital and the Best Stocks Now show? We give you the true story.

The true story behind the numbers. Now, to book an appointment with us, 855-611-BEST, 855-611-BEST. I just love to see people coming on board with Gunderson Capital. We kind of share texts throughout the day, the team. I'll get a text, so-and-so is coming on from Texas, so-and-so is coming on from Ohio, etc. It's just a lot of fun. And then I get to put that money to work.

It really is a fun business most of the time. And to book an appointment with us, you don't want to be in soggy stocks. And I'm not a fan of that asset allocation model. Either is Besant, our Treasury Secretary. Give us a call at 855-611-BESANT to get four weeks of the...

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This show is not a solicitation to buy or sell any securities. Bill Gunderson or clients of Gunderson Capital Management may have long or short positions in stocks mentioned during the show. Past performance is not indicative of future performance. Gunderson Capital Management is a fee-based registered investment advisory firm. All accounts are held at Charles Schwab. Schwab is a member of SIPC and FINRA.